If you believe in BTS, why are you not providing liquidity?

[cylonmaker2053]

Indeed, I enter a price slightly inferior to be sure I wasn't doing anything wrong entering the same price.

Anyway, you are right, I just needed to be patient. Everything in order

Thanks again. I think if more people knew how simple it is, that wall would look like as a simple brick very soon.

cool, glad it worked out. i just noticed something for the first time today while shorting bitCNY...if there's no buy wall then the price of your short dynamically updates to the peg spot price. that's kind of cool and guarantees you won't be ripped off by not constantly watching the peg.

i just can't wait for these markets to become more liquid. it'd be great to see some financial institutions using our products for big block trades, currency hedging, moving funds across borders more cheaply, etc.

[EstefanTT]

Indeed, I enter a price slightly inferior to be sure I wasn't doing anything wrong entering the same price.

Anyway, you are right, I just needed to be patient. Everything in order

Thanks again. I think if more people knew how simple it is, that wall would look like as a simple brick very soon.

[cylonmaker2053]

Thanks a lot CyclonMaker

One last thing. Is it normal ?



It should sell my BitUSD no ? The price is below the wall price

my pleasure

sometimes trades take a minute or so to catch up to the block, but it looks like your trade went through. did you just put it in at the highest bid price? there's never a need to go below highest bid, unless you need more volume traded.

[EstefanTT]

Thanks a lot CyclonMaker

One last thing. Is it normal ?



It should sell my BitUSD no ? The price is below the wall price

[cylonmaker2053]

Do you have some ratio in mind that could help me ?

you can't go wrong with something like 10%-20% if you wanted a min threshold; more can't hurt anything other than potential profits.

[EstefanTT]

Do you have some ratio in mind that could help me ?

Also, is it better to fraction it in several times 500 or 1k ? Or a couple of big short is ok ?

[cylonmaker2053]

I just tried it. I create a buy order and a short order slightly above the wall, hit confirm at the same time and voilà, I'm short.

After that, I sold the BitUSD at the wall price. Doing that I'm short but I loose a something like 0.5% right on the moment, right ?

I didn't tried the roll over yet but if I understand it well, I will be doing the same but instead of selling the BitUSD I will use them to cover my old shorts (ex : 3.5 weeks old).

If I'm short with the maximum bts I can. Then I will be able to roll over and over and over but I won't be able to cover and have my bts untill we start having some serious liquidity, right ?

Anyone knows what will happen with shorts during the transistion to 2.0 ?

i recommend NOT shorting with your full BTS stash as collateral. keep a decent buffer for flexibility in covering, else you'll slip up one day and find your collateral rolled into the big pile at the peg. otherwise, what you're doing should work just fine.

[EstefanTT]

Shorting is simple.

If the buy wall is at 154 and the sell wall is at 156

Place a buy order for 500 BitUSD at 155 (don't hit confirm)

Place a short order for 500 BitUSD at 155 (don't hit confirm)

Now hit confirm on both orders and wait for them to fill each other

sell your BitUSD and you are now short.

Do this every 30 days to roll your position over.

Because so many people got burned on the 30 day rule expiring on them, they are gun shy.  But when the 2.0 launches, then everybody will be doing it, because it will be easier, so by then it will be too late to short at these prices.

i do this regularly and roll over shorts every couple weeks.

the voting buttons up top on this thread should include an option for 'Actively shorting bitUSD' so we could get a feel for what % of us are active in the market providing liquidity. i am and will keep shorting bc i am convinced BTS will rally hard at some point.

I just tried it. I create a buy order and a short order slightly above the wall, hit confirm at the same time.

After that, I sold the BitUSD at the wall price. Doing that I'm short but I loose a something like 0.5% on the moment, right ?

Et voilà, I'm short.

I didn't tried the roll over yet but if I understand it well, I will be doing the same but instead of selling the BitUSD I will use them to cover my old shorts (ex : 3.5 weeks old).

If I'm short with the maximum bts I can (keeping enought to rolll over), then I will be able to roll over and over and over but I won't be able to cover and have my bts untill we start having some serious liquidity, right ?

Anyone knows what will happen with shorts during the transistion to 2.0 ?

[xeroc]

I just ran into this comment :

Re: What will happen if nobody shorts ?
« Reply #1 on: May 11, 2015, 07:04:35 PM »
Quote
BM addresses it here:
https://bitsharestalk.org/index.php/topic,16127.msg208102.html#msg208102

It is great that the 10% and 30 day rule was removed, it would have caused the force destruction of bitUSD when there is already an undersupply. That would be the bitshares equivalent of "crossing the streams"

So ... There is or not expiration date with the shorts you do from that date ? If there is not and the transition to BitShares is smooth, I will be happy to short and help reduce this gigantic wall.

Somepne have some info on that or the place I can get it ?

there is a 30 day expiration time .. after expiration your shorts will automatically try to buy AT the feed price .. that's what you see in the bitUSD:BTS market .. lots of expired shorts waiting to get covered

[EstefanTT]

I just ran into this comment :

Re: What will happen if nobody shorts ?
« Reply #1 on: May 11, 2015, 07:04:35 PM »
Quote
BM addresses it here:
https://bitsharestalk.org/index.php/topic,16127.msg208102.html#msg208102

It is great that the 10% and 30 day rule was removed, it would have caused the force destruction of bitUSD when there is already an undersupply. That would be the bitshares equivalent of "crossing the streams"

So ... There is or not expiration date with the shorts you do from that date ? If there is not and the transition to BitShares is smooth, I will be happy to short and help reduce this gigantic wall.

Somepne have some info on that or the place I can get it ?

[cylonmaker2053]

Shorting is simple.

If the buy wall is at 154 and the sell wall is at 156

Place a buy order for 500 BitUSD at 155 (don't hit confirm)

Place a short order for 500 BitUSD at 155 (don't hit confirm)

Now hit confirm on both orders and wait for them to fill each other

sell your BitUSD and you are now short.

Do this every 30 days to roll your position over.

Because so many people got burned on the 30 day rule expiring on them, they are gun shy.  But when the 2.0 launches, then everybody will be doing it, because it will be easier, so by then it will be too late to short at these prices.

i do this regularly and roll over shorts every couple weeks.

the voting buttons up top on this thread should include an option for 'Actively shorting bitUSD' so we could get a feel for what % of us are active in the market providing liquidity. i am and will keep shorting bc i am convinced BTS will rally hard at some point.

[Shentist]

The bitUSD market is not a good example!

It was overhyped to a marketcap of >1million USD and now is down to 140k

The expired shorts are the left over stuff of the bearmarket.

Better example is CNY! Was never overhyped and you can't find this big short expired wall on this market. So, if you want a look into a "normal" market then take a look into CNY!

[Erlich Bachman]

really?  Wow, I must have got lucky.  So you can't roll over shorts anymore?  Well that sucks.

[lil_jay890]

Shorting is simple.

If the buy wall is at 154 and the sell wall is at 156

Place a buy order for 500 BitUSD at 155 (don't hit confirm)

Place a short order for 500 BitUSD at 155 (don't hit confirm)

Now hit confirm on both orders and wait for them to fill each other

sell your BitUSD and you are now short.

Do this every 30 days to roll your position over.

Because so many people got burned on the 30 day rule expiring on them, they are gun shy.  But when the 2.0 version starts testing, then everybody will be doing it, so by then it will be too late to short at these prices.

I think the method you describe above only works when there are no expired shorts sitting on the order book... If you do this when there are expired shorts, they will buy up the bitUSD you are shorting and you will still be left with an open buy order for bitUSD.

[Erlich Bachman]

Shorting is simple.

If the buy wall is at 154 and the sell wall is at 156

Place a buy order for 500 BitUSD at 155 (don't hit confirm)

Place a short order for 500 BitUSD at 155 (don't hit confirm)

Now hit confirm on both orders and wait for them to fill each other

sell your BitUSD and you are now short.

Do this every 30 days to roll your position over.

Because so many people got burned on the 30 day rule expiring on them, they are gun shy.  But when the 2.0 launches, then everybody will be doing it, because it will be easier, so by then it will be too late to short at these prices.